Sovereign Financial Group Inc. Invests $220,000 in Iron Mountain Incorporated (NYSE:IRM)

Sovereign Financial Group Inc. purchased a new position in Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,141 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other large investors also recently added to or reduced their stakes in IRM. Blue Trust Inc. lifted its stake in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. Manchester Capital Management LLC boosted its position in Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 419 shares in the last quarter. CVA Family Office LLC bought a new stake in Iron Mountain during the 4th quarter valued at approximately $32,000. Finally, Muzinich & Co. Inc. bought a new stake in Iron Mountain during the 3rd quarter valued at approximately $35,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $0.44 during midday trading on Wednesday, hitting $78.04. The company had a trading volume of 893,537 shares, compared to its average volume of 1,421,293. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 117.62, a PEG ratio of 4.51 and a beta of 0.96. Iron Mountain Incorporated has a 12-month low of $52.81 and a 12-month high of $82.19. The company has a fifty day moving average of $78.23 and a two-hundred day moving average of $70.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

Analyst Ratings Changes

IRM has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Wells Fargo & Company upped their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays upped their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.80.

Insider Buying and Selling

In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now owns 24,491 shares in the company, valued at approximately $1,845,396.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the sale, the executive vice president now owns 62,938 shares in the company, valued at approximately $5,048,256.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wendy J. Murdock sold 1,500 shares of Iron Mountain stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.35, for a total transaction of $113,025.00. Following the sale, the director now owns 24,491 shares of the company’s stock, valued at approximately $1,845,396.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,749 shares of company stock valued at $11,748,676. Corporate insiders own 2.10% of the company’s stock.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.